'Richly documented and convincingly presented' -- New Society Mods and Rockers, skinheads, video nasties, designer drugs, bogus asylum seeks and hoodies. Every era has its own moral panics. It was Stanley Cohen's classic account, first published in the early 1970s and regularly revised, that brought the term 'moral panic' into widespread discussion. It is an outstanding investigation of the way in which the media and often those in a position of political power define a condition, or group, as a threat to societal values and interests. Fanned by screaming media headlines, Cohen brilliantly demonstrates how this leads to such groups being marginalised and vilified in the popular imagination, inhibiting rational debate about solutions to the social problems such groups represent. Furthermore, he argues that moral panics go even further by identifying the very fault lines of power in society. Full of sharp insight and analysis, Folk Devils and Moral Panics is essential reading for anyone wanting to understand this powerful and enduring phenomenon. Professor Stanley Cohen is Emeritus Professor of Sociology at the London School of Economics. He received the Sellin-Glueck Award of the American Society of Criminology (1985) and is on the Board of the International Council on Human Rights. He is a member of the British Academy.
Collectively, mankind has never had it so good despite periodic economic crises of which the current sub-prime crisis is merely the latest example. Much of this success is attributable to the increasing efficiency of the world's financial institutions as finance has proved to be one of the most important causal factors in economic performance. In a series of insightful essays, financial and economic historians examine how financial innovations from the seventeenth century to the present have continually challenged established institutional arrangements, forcing change and adaptation by governments, financial intermediaries, and financial markets. Where these have been successful, wealth creation and growth have followed. When they failed, growth slowed and sometimes economic decline has followed. These essays illustrate the difficulties of co-ordinating financial innovations in order to sustain their benefits for the wider economy, a theme that will be of interest to policy makers as well as economic historians.